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On 30 September 2022, Sylvania Platinum Limited announced that Directors, senior management, and employees exercised 1,755,000 vested deferred share awards on 29 September 2022, satisfied by issuing Ordinary Shares from Treasury. The Company subsequently repurchased 702,300 of these shares at 96.5 pence to satisfy tax liabilities and an additional 382,700 shares at 90.91 pence at the request of certain employees. All 1,085,000 repurchased Ordinary Shares are being held in Treasury, resulting in 266,800,788 Ordinary Shares with voting rights.
| Date | 30 Sept 2022 |
| Time | 07:00:05 |
| Category | Capital structure |
| ID | 3115B |
_____________________________________________________________________________________________________________________________
30 September 2022
Sylvania Platinum Limited
("Sylvania", the "Company" or the "Group")
Exercise of vested bonus shares
Sylvania (AIM: SLP) today announces that certain Directors, senior management and employees have, following the vesting of deferred share awards, granted to them in August 2019 under the Sylvania Platinum Limited Deferred Share Award Scheme, exercised their rights over a total of 1,755,000 Ordinary Shares in the capital of the Company. This has been satisfied by issuing Ordinary Shares held in Treasury.
702,300 of the Ordinary Shares were immediately repurchased by the Company at the vesting price of 96.5 pence, in order to satisfy the tax liabilities of the PDMRs and employees.
A further 382,700 Ordinary Shares have been repurchased by the Company at the 30-day VWAP of 90.91 pence, calculated at the close of business on 29 September 2022. These Ordinary Shares were repurchased at the request of certain employees under the terms of the Deferred Share Award Rules.
All of the 1,085,000 Ordinary Shares repurchased by the Company are being held in Treasury.
Of the total 1,755,000 Bonus Shares being exercised the following relate to Directors and senior management of the Company:
|
Director |
Bonus shares being exercised |
Shares sold |
Bonus shares retained |
Total shares held after event |
% of share capital (Shares with voting rights) |
|||
|
Sales for tax and dealing costs |
Price per share |
Other share sales |
Price per share |
|||||
|
Jaco Prinsloo |
165,000 |
74,250 |
96.5p |
- |
- |
90,750 |
1,463,144 |
0.55% |
|
Lewanne Carminati |
150,000 |
67,500 |
96.5p |
- |
- |
82,500 |
1,326,831 |
0.50% |
|
PDMR |
Bonus shares being exercised |
Shares sold |
Bonus Shares retained |
Total shares held after event |
% of share capital (Shares with voting rights) |
|||||
|
Sales for tax and dealing costs |
Price per share |
Other share sales |
Price per share |
|||||||
|
Albert Jordaan |
150,000 |
67,500 |
96.5p |
10,000 |
90.91p |
72,500 |
259,000 |
0.10% |
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Following the above transaction, the Company's issued share capital amounts to 280,155,657 Ordinary Shares of which a total of 13,354,869 Ordinary Shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights in Sylvania 266,800,788 Ordinary Shares.
CONTACT DETAILS
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For further information, please contact: |
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Jaco Prinsloo CEO Lewanne Carminati CFO |
+27 11 673 1171 |
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Nominated Adviser and Broker |
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Liberum Capital Limited |
+44 (0) 20 3100 2000 |
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Richard Crawley / Scott Mathieson / Kane Collings |
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Communications |
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Alma PR Limited |
+44 (0) 20 3405 0205 |
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Justine James / Josh Royston / Matthew Young |
CORPORATE INFORMATION
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Registered and postal address: |
Sylvania Platinum Limited |
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Clarendon House |
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2 Church Street |
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Hamilton HM 11 |
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Bermuda |
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SA Operations postal address: |
PO Box 976 |
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Florida Hills, 1716 |
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South Africa |
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Sylvania Website: www.sylvaniaplatinum.com
About Sylvania Platinum Limited
Sylvania Platinum is a lower-cost producer of platinum group metals (PGM) (platinum, palladium and rhodium) with operations located in South Africa. The Sylvania Dump Operations (SDO) comprises six chrome beneficiation and PGM processing plants focusing on the retreatment of PGM-rich chrome tailings materials from mines in the Bushveld Igneous Complex. The SDO is the largest PGM producer from chrome tailings re-treatment in the industry. The Group also holds mining rights for PGM projects in the Northern Limb of the Bushveld Complex.
For more information visit https://www.sylvaniaplatinum.com/
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse regulation (EU) no.596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Jaco Prinsloo.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
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a) |
Name
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Jacobus Johannes Prinsloo |
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2 |
Reason for the notification
|
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a) |
Position/status
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Chief Executive Officer |
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b) |
Initial notification/ Amendment
|
Initial Notification |
||||
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
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a) |
Name
|
Sylvania Platinum Limited |
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b) |
LEI
|
2138005DSKINAZ4OA492 |
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4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of USD 0.01 each
BMG864081044 |
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b) |
Nature of the transaction
|
Exercise of Share Awards |
||||
|
c) |
Price(s) and volume(s)
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|
||||
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d) |
Aggregated information
- Aggregated volume
- Price
|
n/a Single Transaction
|
||||
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e) |
Date of the transaction
|
29 September 2022 |
||||
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f) |
Place of the transaction
|
Off Market |
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Jacobus Johannes Prinsloo |
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2 |
Reason for the notification
|
|||||
|
a) |
Position/status
|
Chief Executive Officer |
||||
|
b) |
Initial notification/ Amendment
|
Initial Notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
|
a) |
Name
|
Sylvania Platinum Limited |
||||
|
b) |
LEI
|
2138005DSKINAZ4OA492 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of USD 0.01 each
BMG864081044 |
||||
|
b) |
Nature of the transaction
|
Sale of exercised Share Awards to satisfy the tax liability |
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|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
n/a Single Transaction
|
||||
|
e) |
Date of the transaction
|
29 September 2022 |
||||
|
f) |
Place of the transaction
|
Off Market |
||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Lewanne Carminati |
||||
|
2 |
Reason for the notification
|
|||||
|
a) |
Position/status
|
Chief Financial Officer |
||||
|
b) |
Initial notification/ Amendment
|
Initial Notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
|
a) |
Name
|
Sylvania Platinum Limited |
||||
|
b) |
LEI
|
2138005DSKINAZ4OA492 |
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4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of USD 0.01 each
BMG864081044 |
||||
|
b) |
Nature of the transaction
|
Exercise of Share Awards |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
n/a Single Transaction
|
||||
|
e) |
Date of the transaction
|
29 September 2022 |
||||
|
f) |
Place of the transaction
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Off Market |
||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Lewanne Carminati |
||||
|
2 |
Reason for the notification
|
|||||
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a) |
Position/status
|
Chief Financial Officer |
||||
|
b) |
Initial notification/ Amendment
|
Initial Notification |
||||
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
|
a) |
Name
|
Sylvania Platinum Limited |
||||
|
b) |
LEI
|
2138005DSKINAZ4OA492 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of USD 0.01 each
BMG864081044 |
||||
|
b) |
Nature of the transaction
|
Sale of exercised Share Awards to satisfy the tax liability |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
n/a Single Transaction
|
||||
|
e) |
Date of the transaction
|
29 September 2022 |
||||
|
f) |
Place of the transaction
|
Off Market |
||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Albertus Jacobus Johannes Jordaan |
||||
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2 |
Reason for the notification
|
|||||
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a) |
Position/status
|
Executive Officer: New Business |
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b) |
Initial notification/ Amendment
|
Initial Notification |
||||
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
|
a) |
Name
|
Sylvania Platinum Limited |
||||
|
b) |
LEI
|
2138005DSKINAZ4OA492 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of USD 0.01 each
BMG864081044 |
||||
|
b) |
Nature of the transaction
|
Exercise of Bonus Shares |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
n/a Single Transaction
|
||||
|
e) |
Date of the transaction
|
29 September 2022 |
||||
|
f) |
Place of the transaction
|
Off Market |
||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Albertus Jacobus Johannes Jordaan |
||||
|
2 |
Reason for the notification
|
|||||
|
a) |
Position/status
|
Executive Officer: New Business |
||||
|
b) |
Initial notification/ Amendment
|
Initial Notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
|
a) |
Name
|
Sylvania Platinum Limited |
||||
|
b) |
LEI
|
2138005DSKINAZ4OA492 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of USD 0.01 each
BMG864081044 |
||||
|
b) |
Nature of the transaction
|
Sale of exercised Share Awards to satisfy the tax liability |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
n/a Single Transaction
|
||||
|
e) |
Date of the transaction
|
29 September 2022 |
||||
|
f) |
Place of the transaction
|
Off Market |
||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
|
1 |
Details of the person discharging managerial responsibilities/person closely associated
|
|||||
|
a) |
Name
|
Albertus Jacobus Johannes Jordaan |
||||
|
2 |
Reason for the notification
|
|||||
|
a) |
Position/status
|
Executive Officer: New Business |
||||
|
b) |
Initial notification/ Amendment
|
Initial Notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
|||||
|
a) |
Name
|
Sylvania Platinum Limited |
||||
|
b) |
LEI
|
2138005DSKINAZ4OA492 |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
|
|||||
|
a) |
Description of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of USD 0.01 each
BMG864081044 |
||||
|
b) |
Nature of the transaction
|
Sale of exercised Bonus Shares |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information
- Aggregated volume
- Price
|
n/a Single Transaction
|
||||
|
e) |
Date of the transaction
|
29 September 2022 |
||||
|
f) |
Place of the transaction
|
Off Market |
||||